Competition is seriously hurting Amazon and it needs to increase spending just to keep up with the market. The picture is getting worse more spending, steeper decline in margins.
More Quotes from Safa Rashtchy:
I expect the tone of the conference call and the guidance they give to be more positive than investors expect.Safa Rashtchy
There's been a string of bad luck and sloppy disclosure which does reduce the confidence of investors, especially those with shorter-term horizons.
Safa Rashtchy
The key for Amazon is definitely top-line growth in 2002 and beyond. Expectations are not that big. Our model is for a 12 percent increase year over year. That by itself is not enough. Investors expect growth will accelerate in 2003 and beyond, and for that to happen, they need to have some new service deals.
Safa Rashtchy
Microsoft is in the midst of repositioning MSN and they are going to get a property (AOL) that is also in the midst of repositioning Having to fix both at the same time is going to be a challenge.
Safa Rashtchy
but I think eBay and even Amazon have reached pretty high valuations that can't be supported even with their growth rate.
Safa Rashtchy
It's alarming, ... because you don't know if they are spending more because of exciting new products that could come out in the near future or because of competitive pressure to keep up with everyone else.
Safa Rashtchy
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